SAN DIEGO – A Carlsbad lender alleges a New York borrower defaulted on a loan.
MyBusinessLoan.com LLC filed a complaint on Dec. 19 in the U.S. District Court for the Southern District of California against
Port City Logistics Inc. and Jeffrey J. Holbrook
alleging breach of contract.
According to the complaint, the plaintiff alleges that on Aug. 12, 2016, it entered into a loan agreement to lend principal sum of $350,000 with interest of 19.99 percent per annum and payable in 36 months to Port City, while payment of loan as guaranteed by its president, defendant Holbrook. The suit states the defendants have ceased making payments on the loan, which constituted an event of default.
The plaintiff holds Port City Logistics Inc. and Holbrook responsible because the defendants allegedly ceased making payments to the loan and are obligated to repay the loan pursuant to the terms of the loan documents.
The plaintiff seeks judgment against defendant, damages including general, special, consequential and compensatory damages in an amount of at least $344,017.59, interest, attorneys’ fees and costs, costs of suit, and further relief as the court deems just. It is represented by Matthew J. Eandi of Eandi Law Group APC in Los Angeles.
U.S. District Court for the Southern District of California Case number 3:16-cv-03060